StockMarketWire.com - Bluejay Mining has confirmed that drilling, bulk sampling and feasibility and permitting programmes were now under way at the Pituffik titanium project in Greenland.

It said these these work streams all formed part of the company's 2017 exploration work programme which was well advanced.

Chief executive Roderick McIllree said: "I am delighted to report that our 2017 work programme is now well advanced.

"With drilling started, bathymetry survey commenced, and licensing application modules such as the EIA, SIA & stakeholder engagement all progressing as stated earlier this year it was very pleasing to see the onsite team implementing and managing multiple work programmes in an efficient and effective manner.

"We have already proven that Pituffik is the highest-grade mineral sand ilmenite project globally.

"Now we are focused on demonstrating the significant size of the asset, securing an off-take partner and defining a viable logistics solution to ship our premium quality ilmenite product, as we remain on track to commence commercial production in 2018.

"Despite having only recently commenced the onsite part of the work programmes, Pituffik continues to exceed our expectations, with early results already confirming the significant commercial potential of our Project.

"Indicative of this is the first hole drilled on the active beach area immediately east of the current resource limit, where we intersected what appears to be extremely high-grade ilmenite bearing material throughout the entire 5.5m hole depth.

"This is a remarkable outcome; it's clear we have a project of unique and special value and I am convinced that the resource upgrade expected Q4 2017/Q1 2018 will confirm Pituffik as being globally significant in terms of tonnage as well as maintaining its position as being the highest-grade project globally.

"I look forward to updating shareholders on permitting, offtake and customer acceptance developments alongside the recent technical breakthroughs being achieved in the metallurgical process and design of the operation, as well as several other longer lead items regarding creating value out of the existing portfolio of licences."




At 8:11am: [LON:JAY] Bluejay Mining Plc Ord 0.01p share price was +0.38p at 14.88p



Story provided by StockMarketWire.com